Related papers: Mechanism Design Approaches to Blockchain Consensu…
Blockchain systems run consensus rules as code to agree on the state of the distributed ledger and secure the network. Changing these rules can be risky and challenging. In addition, it can often be controversial and take much effort to…
We introduce Unity, a new consensus algorithm for public blockchain settings. Unity is an eventual consistency protocol merging the Proof-of-Work (PoW) and Proof-of-Stake (PoS) into a coherent stochastic process. It encompasses hardware and…
Consensus is unnecessary when the truth is available. In this paper, we present a new perspective of rebuilding the blockchain without consensus. When the consensus phase is eliminated from a blockchain, transactions could be canonized…
Reaching consensus -- a macroscopic state where the system constituents display the same microscopic state -- is a necessity in multiple complex socio-technical and techno-economic systems: their correct functioning ultimately depends on…
The blockchain technology enables mutually untrusting participants to reach consensus on the state of a distributed and decentralized ledger (called a blockchain) in a permissionless setting. The consensus protocol of the blockchain imposes…
The past decade has witnessed the rapid evolution in blockchain technologies, which has attracted tremendous interests from both the research communities and industries. The blockchain network was originated from the Internet financial…
Existing permissioned blockchain systems designate a fixed and explicit group of committee nodes to run a consensus protocol that confirms the same sequence of blocks among all nodes. Unfortunately, when such a permissioned blockchain runs…
Blockchain protocols typically aspire to run in the permissionless setting, in which nodes are owned and operated by a large number of diverse and unknown entities, with each node free to start or stop running the protocol at any time. This…
Blockchain and distributed ledger technologies rely on distributed consensus algorithms. In recent years many consensus algorithms and protocols have been proposed; most of them are for permissioned blockchain networks. However, the…
Proof of Stake (PoS) protocols rely on voting mechanisms to reach consensus on the current state. If an enhanced majority of staking nodes, also called validators, agree on a proposed block, then this block is appended to the blockchain.…
This paper presents a reformulation in topos logic of a safety result arising in an abstract presentation of blockchain consensus protocols. That is, in a high-level template for "correct-by-construction" consensus protocols, it is shown…
Blockchain-based consensus protocols present the opportunity to develop new protocols, due to their novel requirements of open participation and explicit incentivization of participants. To address the first requirement, it is necessary to…
Consensus algorithms are central to blockchain technology and an emerging research area. In this paper, we begin with an overview of the different types and architectures of blockchain networks. Then, with a focus on consortium blockchains,…
Blockchain is an essentially distributed database recording all transactions or digital events among participating parties. Each transaction in the records is approved and verified by consensus of the participants in the system that…
Permissionless blockchain consensus protocols have been designed primarily for defining decentralized economies for the commercial trade of assets, both virtual and physical, using cryptocurrencies. In most instances, the assets being…
Blockchain is a distributed ledger technology that has applications in many domains such as cryptocurrency, smart contracts, supply chain management, and many others. Distributed consensus is a fundamental component of blockchain systems…
Decentralized systems built around blockchain technology promise clients an immutable ledger. They add a transaction to the ledger after it undergoes consensus among the replicas that run a Proof-of-Stake (PoS) or Byzantine Fault-Tolerant…
Committee-based blockchains are among the most popular alternatives of proof-of-work based blockchains, such as Bitcoin. They provide strong consistency (no fork) under classical assumptions, and avoid using energy-consuming mechanisms to…
Blockchain technology has become a trusted method for establishing secure and transparent transactions through a distributed, encrypted network. The operation of blockchain is governed by consensus algorithms, among which Proof of Stake…
Blockchain has recently attracted the attention of the industry due, in part, to its ability to automate asset transfers. It requires distributed participants to reach a consensus on a block despite the presence of malicious (a.k.a.…